The loyalty reward programs who give some kind of rewards to the repeated purchasers haven’t got the exposure of cryptocurrency yet are going to soon experience it.
Most of the credit card company’s mastercard has revealed they are groundworking to incorporate cryptocurrencies Like Sand ,Mana , SHIB as the loyalty programs offerings to U.S. based banks, merchants and fintech companies on its network.
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Loyalty Programs aren’t New. Was it Another Gimmick ?
Bakkt provides a platform for digital assets that empowers customers to buy, sell and hold the digital assets.On october 25,2021 Mastercard and Bakkt Partner initiated to offer Innovative Crypto and Loyalty Solutions.
The mastercard owner now can buy,sell and hold cryptocurrency, delivering unique, crypto-centric loyalty opportunities; these are the solutions provided by Bakkt Partners.
The Chief vice President Sherri Haymond stated,
“Together with Bakkt and grounded by our principled approach to innovation, we’ll not only empower our partners to offer a dynamic mix of digital assets options, but also deliver differentiated and relevant consumer experiences.”
Due to the eCommerce platforms providing millions of loyalty program rewards such as the coffee mug free for 5 packets of coffee powder, reward for grocery shopping for a certain amount of money and many as such on the electronic medium, the business on websites and phone applications has uphilled.
Another interesting crypto loyalty program was launched by AXE who offered perfume tins embarked with Dogecoin ,the meme token on it , this drove the price to swing upto 45% and a lot of customer interests evacuated tin stock within 48 hours of SALE !
In the research of the 2017 COLLOQUY Loyalty Census , the U.S. consumers have reached 3.8 billion memberships altogether loyalty programs.
According to the Supplemental Operational Performance Data, there were 249 millions of mastercards in the United States up till Q1 2021.
All we need to wait and watch is , Will the US Banks start following Price Predictions and Price Analysis on SHIB , MANA , Sand , Ethereum and many other Altcoins to use these loyalties in a strategic approach , leaving backs also in state of huge Crypto profits
